Amundi has been appointed by St James’s Place (SJP) to manage a new GBP2.8 billion Global Absolute Return Multi-Strategy mandate.
St James’s Place is a UK wealth management firm, founded in 1991, with over GBP153 billion of client funds under management.
The mandate will be sterling-denominated and will target an absolute return of cash + 5-6 per cent over a market cycle, based on a strategy that seeks to deliver positive returns in all market environments in the medium-term, with a low correlation to broader markets. The strategy will employ both directional and relative value investment ideas in the portfolio with a high level of diversification and a focus on downside protection, utilising multiple layers of risk management.
Amundi’s global absolute return team, based in Milan, has an average 21 years’ experience and adopts an investment approach incorporating both directional and relative value investment strategies with high levels of diversification. The team is headed by Davide Cataldo.